Internal master reference

Master Document Checklist

Every document, every scenario - purchase & refinance across all loan programs. This is the working master: review it, edit anything inline, and what's left is what we go with. Most borrowers only need the universal items plus the one income type and one program that fits them.

Always required Only if it applies Loan program Transaction type

1 · Always Required

Every borrower, every loan. Start here.

A few things about you

Always required
  • Copy of driver's licenses - front & backFor every borrower on the loan.
  • Last 2 months of bank statements - all pagesEvery account used for down payment, closing costs, or reserves. Full statements only, including blank pages.
  • Most recent investment & retirement statements401(k), IRA, or brokerage - all pages, if applicable.

2 · Income & Employment

Pick the lines that match how each borrower earns. Many borrowers have more than one.

W-2 employee

If it applies
  • Last 2 years of W-2sFrom each employer.
  • Last 30 days of pay stubsFor each borrower.

Self-employed / 1099 / business owner

If it applies
  • Last 2 years of personal federal tax returns - all pages & schedulesSigned.
  • Last 2 years of business tax returns - all pages & schedulesIf applicable, for any entity you own 25%+ (1120, 1120-S, or 1065 with K-1s).
  • Year-to-date profit & loss statement and balance sheetBusiness books through the most recent month.
  • Last 2 years of 1099sIf you're paid as a contractor.

Retired / fixed income

If it applies
  • Social Security or pension award letterCurrent year.
  • Last 2 years of 1099-R or SSA-1099Retirement / Social Security income.
  • Proof of receiptTwo months of bank statements showing the deposits.

Commission, bonus & overtime

If it applies
  • Last 2 years of W-2s + most recent pay stubsSo we can average variable income over time.
  • Last 2 years of federal tax returns - all pages & schedulesNeeded to document commission, bonus, or overtime income.

Rental income

If it applies
  • Current lease agreementsFor each rental property you own.
  • Last 2 years of federal tax returns - all pages & schedulesShows rental income and expenses (Schedule E).

Other income

If it applies
  • Child support / alimonyDivorce decree or court order + proof of receipt, only if you want it counted.
  • Disability or VA benefitsAward letter + proof of receipt.

3 · Funds & Down Payment

Where your money for the deal comes from - and proving it's yours.

Sourcing your funds

If it applies
  • A note about any larger-than-usual depositsOnly needed for a deposit that isn't a normal paycheck and posts within about 60 days before you apply - a short explanation plus proof of where it came from (transfer record or deposit slip). Older deposits generally don't need sourcing.
  • Gift letter - if anyone is gifting you fundsCompleted during the formal application process - NAF will provide it. Plus proof the gift giver had the money and sent it. The gift can come from a family member's personal or business account. Gifts are allowed on a primary or second home, not an investment property.
  • Proof of funds to closeMost recent statement for any account covering down payment + closing costs.

4 · By Transaction Type

Are you buying or refinancing? Use the matching block.

Purchase

Transaction
  • Signed purchase agreementSigned by you and the seller, with all addenda.
  • Proof of earnest money depositCopy of the check or your wire confirmation.
  • Homeowner's insurance quoteFor the home you're buying.
  • Sale of current home, if applicableClosing Disclosure / settlement statement once it's sold.

Refinance - rate & term

Transaction
  • Current mortgage statementMost recent, for every loan on the property.
  • Homeowner's insurance declarations pageCurrent policy.
  • Most recent property tax billAnd HOA statement, if you have one.
  • Note & mortgage / deedFrom your original closing, if you have them handy.

Refinance - cash-out

Transaction
  • Everything in rate & term, plus:A short note on how you'll use the cash (debt payoff, home improvement, etc.).
  • Payoff statements for any debts being paid offIf you're consolidating debt into the loan.

5 · By Loan Program

Program-specific add-ons. You'll be on one of these.

Conventional

Loan program
  • Standard income, asset & transaction docs aboveNo program-specific extras for most borrowers.
  • HOA questionnaire / condo docsIf the property is a condo (see Property add-ons).

FHA

Loan program
  • Standard income, asset & transaction docs aboveSame core file as conventional.
  • Clear photo ID + Social Security verificationFHA requires SSN validation.
  • Gift documentation, if usedFHA allows gifts for the full down payment with a proper paper trail.

VA

Loan program
  • Certificate of Eligibility (COE)I can often pull this for you.
  • DD-214 or Statement of ServiceDischarge papers, or current orders if active duty.
  • Most recent Leave & Earnings Statement (LES)If currently serving.

USDA

Loan program
  • Standard income & asset docsPlus household income for everyone in the home (USDA caps total household income).
  • Property must be in an eligible rural areaI'll confirm the address qualifies.

Jumbo

Loan program
  • 2 years tax returns + 2 months statements on all accountsJumbo underwriting looks deeper.
  • Proof of reservesSeveral months of payments held in reserve after closing.

DSCR (investment property)

Loan program
  • Lease agreement or market rent analysisQualifies on the property's rent, not your personal income - so usually no tax returns or pay stubs.
  • Proof of reservesTypically a few months of payments.
  • Entity docs, if buying in an LLCArticles of organization + operating agreement.
  • Schedule of real estate ownedList of other properties you hold.

Renovation (FHA 203k / Fannie HomeStyle)

Loan program
  • Contractor's bid / detailed scope of workItemized estimate for the planned work.
  • Contractor license & insuranceFor the licensed GC doing the work.
  • Plans / specs, if structuralArchitect drawings when the work changes the footprint.
  • Standard income, asset & transaction docsOn top of the renovation paperwork.

Bank statement / Non-QM (self-employed)

Loan program
  • 12–24 months of bank statementsPersonal or business - qualifies on deposits instead of tax returns.
  • Business license + CPA / P&L letterTo confirm the business and expense ratio.

6 · Property Add-Ons

Triggered by the type of property, on top of everything above.

Condo

If it applies
  • HOA contact + condo questionnaireThe lender orders this; you provide the HOA contact.
  • HOA dues statement & master insuranceCurrent.

Multi-unit (2–4 units)

If it applies
  • Leases for occupied unitsCurrent rent rolls.

New construction

If it applies
  • Builder contract + spec sheetAnd the certificate of occupancy at completion.

7 · Situational

Only if one of these is part of your story.

Life events & history

If it applies
  • Divorce decree / separation agreementIf you pay or receive support, or it affects the property.
  • Bankruptcy discharge papersIf you've had a bankruptcy - all pages.
  • Letter of explanationFor recent credit inquiries, gaps in employment, or anything that needs context.
  • Green card or work visaFor permanent / non-permanent resident borrowers.
  • Bankruptcy, foreclosure or short sale historyDates and documentation if within the last 7 years.
I GOT U® - Gather it once and we'll take it from there. When in doubt, send it; it's easier to set aside an extra document than to chase a missing one at closing.
Brian - this is the master. Edit any line right here (double-click text to change it), delete what you'll never use, and reorder as you like. Once it's how you want it, tell me and I'll make this the single source of truth for the checklist tool and the email versions.